Questions re buying property with other peopleMake Text Bigger
This is probably fairly simple but I cannot seem to get my head around it.
My wife and I and my inlaws (mother and father) are going to buy a BTL property in the new year. I have 3 questions.
- I’m guessing we would need to be tenants in common each owning 25%?
- As some of this will be mortgaged would all of us need to be on the mortgage? (Would that even be possible if someone is 60 years old?)
- The mortgage part is going to be interest only. As the monthly payments are the same whether we have the mortgage for 5 or 25 years is it always the best choice to go for as long as possible?
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